Media: Trass as prime minister will have to raise taxes

To increase UK defense spending, the new prime minister will have to raise taxes. This is reported by the BBC broadcasting company with reference to the Royal Joint Institute for the Study of Security and Defense. Most likely, such an unpleasant duty will fall on the shoulders of Liz Truss. She is considered the favorite in the race for the prime minister’s seat.

Experts have calculated that if Truss fulfills his promises to increase the amount of funds that go to defense, this will require an additional 157 billion pounds (the equivalent of 181 billion dollars). And since the growth of military spending to 3% of GDP should occur by 2030, the fastest way is to raise personal income tax or VAT rates. However, all this contradicts the election promises of the ex-Minister of Defense.

Another option, experts say, is to limit the funding of state social programs. But for this it will be necessary to carry out a large-scale information campaign. This takes some time.

Now the UK government spends 2% of GDP on defense. Experts admit that, taking into account assistance to Ukraine, this figure may be slightly higher – up to 2.3% of GDP.

The name of the new prime minister will be announced on the afternoon of 5 September. On September 6, the newly elected head of government will begin work. Boris Johnson, who served as prime minister, announced his resignation on July 7. He did this after 60 people defiantly left his government.